REGISTERED NUMBER: 00570773 (England and Wales)

Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31 March 2025

for

Long Marsh Limited

Page

Company Information

1

Strategic Report

2

to

3

Report of the Directors

4

Report of the Independent Auditors

5

to

8

Statement of Income and Retained Earnings

9

Balance Sheet

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

to

20

DIRECTORS:

Mr S I Groome

Mrs S Groome

SECRETARY:

Mr F D G Cattley

REGISTERED OFFICE:

Heron House

The Embankment

Wellingborough

Northamptonshire

NN8 1LD

REGISTERED NUMBER:

00570773 (England and Wales)

AUDITORS:

Clifford Roberts

Chartered Accountants &

Statutory Auditors

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

Review of business results and performance

The company operates a vehicle hire fleet with sales and servicing.

The period under review was another good year for the company with strong EBITDA. The company has made a small profit in the year which is very pleasing given the significant depreciation charge cause by another year of large investment in the rental fleet.. This modest profit is reflective of the whole industry as market conditions are difficult to transverse, but the company are well placed to take advantage of opportunities as and when they become available.

The strong reputation we have for providing good quality, low mileage second hand vehicles combined with our team's ability to put the cars in the market at the correct time, means we were able to maximise vehicle returns in the year.

PRINCIPAL RISKS AND UNCERTAINTIES

Due to the nature of the business, the company is exposed to the following risks which are mitigated through regular review of management information and day to day involvement of the directors.

Interest rate risk

The company finances its operations by long-term relationships with national financiers. The directors constantly monitor interest rates and pursue advantageous rates wherever possible.

Credit risk

Credit risk is primarily attributed to trade receivables, notably rental arrears or customers defaulting. In order to manage the risks, there is a robust credit checking process in place prior to customer approval and regular review of management reports with specific emphasis on credit limits, payment history and aged debtors. Historic trends suggest the incidence of bad debts is low in relation to turnover.

Liquidity risk

Rolling cashflow projections are prepared regularly for review by the directors and the company maintains a positive cash balance at all times to ensure liabilities can be settled as they fall due..

Supply chain

The new vehicle market has experienced issues within the supply chain and the lead time on new vehicles has increased. The directors continue to monitor the fleet on a daily basis so that vehicles can be sold to benefit from resale prices but also maintain the required stock of vehicles to generate rental revenue growth. Rental rate increases allow the business to maintain the required fleet levels, and cover increased repair costs on older vehicles until such time as new vehicles can be acquired.

FUTURE DEVELOPMENTS

The company will continue to build on its strengths to deliver further growth, and it will continue to assess the profitability of all sites, and assess the potential for any new sites to help with future growth.

KEY PERFORMANCE INDICATORS

The directors use a number of key performance indicators to determine effective management, which are as follows:

2025

2024

£

£

Turnover

11,134,080

11,411,434

Gross Profit %

12.2%

20.4%

Operating Profit %

3.1%

10.5%

Shareholders' fund

12,061,567

12,089,187

ON BEHALF OF THE BOARD:

Mr S I Groome - Director

12 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 was £130,000 (2024 £173,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr S I Groome

Mrs S Groome

DISCLOSURE IN THE STRATEGIC REPORT

The disclosure relating to events occurring after the year end, likely future developments and research and development activities are disclosed in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware and each director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Clifford Roberts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S I Groome - Director

12 December 2025

Opinion

We have audited the financial statements of Long Marsh Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-

We obtained an understanding of the legal and regulatory framework applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK Generally Accepted Accounting Practice and UK corporate taxation laws.

-

We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and by observing the oversight of management, the culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud prevention, which may reduce the opportunities for fraud to take place, and fraud deterrence, which could persuade individuals not to commit fraud in the first instance . We corroborated our inquiries through our review of all relevant available audit information.

-

We assessed and understood the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. The audit procedures performed by the engagement team included:

>

Identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud;

>

Understanding of how senior management considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

>

Challenging assumptions and judgements made by management in its significant accounting estimates;

>

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; and,

>

Assessing the extent of compliance with relevant laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Billingham BA (Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Clifford Roberts

Chartered Accountants &

Statutory Auditors

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

12 December 2025

TURNOVER

3

11,134,080

11,411,434

Cost of sales

9,772,019

9,085,412

GROSS PROFIT

1,362,061

2,326,022

Administrative expenses

1,018,950

1,132,408

OPERATING PROFIT

5

343,111

1,193,614

Interest receivable

33,808

32,310

376,919

1,225,924

Interest payable and similar expenses

6

538,119

472,255

(LOSS)/PROFIT BEFORE TAXATION

(161,200

)

753,669

Tax on (loss)/profit

7

(263,580

)

189,804

PROFIT FOR THE FINANCIAL YEAR

102,380

563,865

Retained earnings at beginning of year

11,838,937

11,448,072

Dividends

8

(130,000

)

(173,000

)

RETAINED EARNINGS AT END OF YEAR

11,811,317

11,838,937

FIXED ASSETS

Intangible assets

9

-

2,744

Tangible assets

10

16,796,618

18,104,656

16,796,618

18,107,400

CURRENT ASSETS

Stocks

11

1,028,198

1,019,481

Debtors

12

1,525,741

1,488,322

Cash at bank and in hand

2,565,281

2,206,095

5,119,220

4,713,898

CREDITORS

Amounts falling due within one year

13

5,386,007

4,776,326

NET CURRENT LIABILITIES

(266,787

)

(62,428

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,529,831

18,044,972

CREDITORS

Amounts falling due after more than one year

14

(3,076,527

)

(4,258,258

)

PROVISIONS FOR LIABILITIES

17

(1,391,737

)

(1,697,527

)

NET ASSETS

12,061,567

12,089,187

CAPITAL AND RESERVES

Called up share capital

18

250,250

250,250

Retained earnings

19

11,811,317

11,838,937

SHAREHOLDERS' FUNDS

12,061,567

12,089,187

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

Mr S I Groome - Director

Cash flows from operating activities

Cash generated from operations

1

3,623,088

3,712,106

Interest element of hire purchase payments paid

(538,119

)

(472,255

)

Tax paid

(110,774

)

(218,601

)

Net cash from operating activities

2,974,195

3,021,250

Cash flows from investing activities

Purchase of tangible fixed assets

(4,541,933

)

(608,978

)

Sale of tangible fixed assets

2,694,123

2,541,420

Interest received

33,808

32,310

Net cash from investing activities

(1,814,002

)

1,964,752

Cash flows from financing activities

Capital repayments, net of new loans

(671,007

)

(4,639,070

)

Equity dividends

(130,000

)

(173,000

)

Net cash from financing activities

(801,007

)

(4,812,070

)

Increase in cash and cash equivalents

359,186

173,932

Cash and cash equivalents at beginning of year

2

2,206,095

2,032,163

Cash and cash equivalents at end of year

2

2,565,281

2,206,095

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

(Loss)/profit before taxation

(161,200

)

753,669

Depreciation charges

3,733,640

3,337,565

Profit on disposal of fixed assets

(511,533

)

(619,475

)

Finance costs

538,119

472,255

Finance income

(33,808

)

(32,310

)

3,565,218

3,911,704

Increase in stocks

(72,233

)

(77,504

)

(Increase)/decrease in trade and other debtors

(37,419

)

8,282

Increase/(decrease) in trade and other creditors

167,522

(130,376

)

Cash generated from operations

3,623,088

3,712,106

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

2,565,281

2,206,095

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,206,095

2,032,163

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,206,095

359,186

2,565,281

2,206,095

359,186

2,565,281

Debt

Finance leases

(8,334,243

)

671,007

(7,663,236

)

(8,334,243

)

671,007

(7,663,236

)

Total

(6,128,148

)

1,030,193

(5,097,955

)

1.	STATUTORY INFORMATION

Long Marsh Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. This assessment is based on the strong cash balance at the year end in addition to the fact that any net current liabilities have arisen because of the short term hire purchase liability, which is due over the next twelve months which gives the company adequate time to continue to trade and generate surplus cash to fund the repayments.

Significant judgements and estimates

In the application of the Company's accounting policies, which are described below, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on the historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements

The following judgement, apart from those involving estimations (which are dealt with separately below), have had the most significant effect on the amounts recognised in the financial statements.

Tangible asset depreciation

Determining the rates of depreciation to be applied to tangible fixed assets, this involves judgement of the useful economic life and residual values. The actual lives of the assets and residual values may vary depending on a number of factors. In assessing asset lives, factors such as technological innovation vehicle life cycles, mileage and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, remaining lives of the assets and projected disposal values.

Fixed assets transferred to stock

The residual values of the Rental Fleet vary over the course of ownership, at the point of transfer to stock the residual value is reassessed and the stock moves at the current market value, with the associated profit and loss on disposal recognised at the point of transfer.

Revenue

Turnover represents net invoiced sales excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licence is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets and rental fleet

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, or if held under a finance lease, over the lease term, whichever is shorter.on the following bases;

Freehold property

- 2% on cost

Plant and Machinery

- 33% and 20% straight line

The company also charge depreciation on the Rental Fleet on a straight line basis to an estimate of the residual value, which is gathered by reference to an active market value for motor vehicles. The company continually reviews previous estimates of residual values as these continually fluctuate, based on various factors.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised as the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.

Debtors and creditors

Short term debtors are measured at transaction price, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income statement in the year that the company becomes aware of the obligation, and are measured as the best estimate at the balance sheet date of the amount required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Sales

3,260,834

2,996,377

Hire

7,817,695

8,365,019

Servicing

55,551

50,038

11,134,080

11,411,434

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,244,730

1,204,654

Social security costs

141,278

105,182

Other pension costs

105,069

131,582

1,491,077

1,441,418

The average number of employees during the year was as follows:

2025

2024

Office and management

46

46

2025

2024

£

£

Directors' remuneration

127,563

182,184

Directors' pension contributions to money purchase schemes

70,000

100,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

3,667,381

3,334,819

Profit on disposal of fixed assets

(511,533

)

(619,475

)

Licence amortisation

2,744

2,745

Auditors' remuneration

19,200

19,000

Non audit remuneration

11,926

14,913

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Hire purchase

538,119

472,255

7.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

42,209

110,774

Deferred tax

(305,789

)

79,030

Tax on (loss)/profit

(263,580

)

189,804

Reconciliation of total tax (credit)/charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

(Loss)/profit before tax

(161,200

)

753,669

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(40,300

)

188,417

Effects of:

Expenses not deductible for tax purposes

819

6,750

Capital allowances in excess of depreciation

-

(84,393

)

Depreciation in excess of capital allowances

82,925

-

Adjustments to tax charge in respect of previous periods

(92

)

-

Deferred tax movement

(305,789

)

79,030

Marginal relief

(1,143

)

-

Total tax (credit)/charge

(263,580

)

189,804

8.

DIVIDENDS

2025

2024

£

£

Ordinary share capital A shares of £1 each

Paid

100,000

140,000

Ordinary share capital B shares of £1 each

Paid

30,000

33,000

130,000

173,000

9.	INTANGIBLE FIXED ASSETS

Licence

£

COST

At 1 April 2024

and 31 March 2025

16,505

AMORTISATION

At 1 April 2024

13,761

Amortisation for year

2,744

At 31 March 2025

16,505

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

2,744